FinancialsNov 26, 2025
Movado CEO Talks Tariffs, Growing Interest in Accessible Luxury WatchesDuring its Q3 call, CEO Efraim Grinberg discussed the deal to lower tariffs on Swiss-made watches, watch market trends, and more.
SourcingJul 20, 2017
Pallinghurst Successful in Acquisition of Gemfields
The company intends to take the colored gemstone miner private.
Pallinghurst will take Gemfields private, putting the focus on the company’s core gemstone mining projects as it also looks to develop the portfolio. Pictured here is the Kagem emerald mine in Zambia.
London--Two months after it first made its unsolicited takeover offer, Gemfields’ biggest investor is set to acquire the colored gemstone miner.
As of Tuesday, Pallinghurst had received acceptances representing more than 90 percent of Gemfields shares, allowing it to begin the last steps needed to acquire the company.
Under the terms of the deal, Gemfields shareholders will be entitled to receive 1.91 Pallinghurst shares for each Gemfields share that they own.
Pallinghurst’s journey to become the owner of Gemfields began in late May, when the gemstone miner’s biggest investor made an unsolicited offer to buy out the remaining shares it didn’t already own.
Just a few weeks later, Shanghai-based investment company Fosun Gold made a play for the miner but that offer lapsed fairly quickly, concurrent with Pallinghurst’s offer becoming wholly unconditional on June 26.
Now, Pallinghurst plans on taking the company private.
On June 30, Gemfields announced that it had applied to be delisted from AIM, the London Stock Exchange’s market for smaller companies; it expects the cancellation to take effect as of July 28.
Pallinghurst CEO Arne Frandsen said the takeover will “allow for the Pallinghurst team to take full operational control, revitalize the company and unlock the synergies. This will in turn strengthen and improve Gemfields’ operational and financial position.”
When it first made the offer, Pallinghurst said it would not only focus on the company’s core emerald and ruby operations in Zambia and Mozambique but also accelerate the “development of its existing portfolio of projects” to mitigate its dependency on its assets, as well as explore alternatives for Fabergé--goals it has reiterated now that it’s in line to take over the company.
Gemfields declined to comment for this story.
Amid some restructuring at the top for Pallinghurst, including the appointment of a chief investment officer and a chief operating officer, the company said its executive management will lead operations in London, South Africa, Zambia and Mozambique, with dedicated teams in the field.
When asked whether this meant possible changes for Gemfields management, a Pallinghurst spokesperson said: “Changes to the Gemfields strategy and management will be determined by Pallinghurst following the close of the transaction in consultation with shareholders and other stakeholders.”
More on Sourcing
The Latest
TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
MajorsNov 26, 2025
Serafino Consoli Names New VP of Sales, Brand Development for the AmericasLuxury veteran Alejandro Cuellar has stepped into the role at the Italian fine jewelry brand.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsNov 26, 2025
Grandview Klein Presents 4 Scholarships in NamibiaThe company gave awards to four students at the Namibia University of Science & Technology, including one who is a Grandview Klein employee.
IndependentsNov 25, 2025
Pearl Stringer Margaret Hoisik DiesShe is remembered as an artist who loved her craft and was devoted to her faith, her friends, and her family.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TrendsNov 25, 2025
Amanda’s Style File: Polka DotsThe polka dot pattern transcends time and has re-emerged as a trend in jewelry through round-shaped gemstones.
CrimeNov 25, 2025
Former Arizona AG Official Charged With Trafficking Stolen JewelryVanessa Hickman, 49, allegedly sold a diamond bracelet that was mistakenly sent to her home.
Events & AwardsNov 25, 2025
GIA Awards Susan Jacques With Its Highest HonorGIA’s former president and CEO was presented with the Richard T. Liddicoat Award for Distinguished Achievement.
Recorded WebinarsNov 24, 2025
Watch: Top Tips for Social Media EtiquetteSocial media experts spoke about protecting brand reputation through behaving mindfully online.
WatchesNov 24, 2025
Breitling Reveals Plans for Gallet, Universal GenèveIn 2026, the three will come together as “House of Brands,” with Gallet sold in Breitling stores and Universal Genève sold separately.
CollectionsNov 24, 2025
Muse Debuts a Wicked 'Have a Heart x Cynthia Erivo' SequelThe second drop, which includes more Elphaba-inspired pieces from additional designers, will continue to benefit nonprofit Dreams of Hope.
IndependentsNov 24, 2025
J.R. Dunn Jewelers Names New PresidentSecond-generation jeweler Sean Dunn has taken on the role.
MajorsNov 21, 2025
Natural Diamond Council Names New CEOAmber Pepper’s main focus will be on digital innovation and engaging younger consumers.
CollectionsNov 21, 2025
Piece of the Week: Melissa Kaye’s ‘Rocky Infinity’ NecklaceThe lariat necklace features a 4.88-carat oval-cut Zambian emerald in 18-karat yellow gold.
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
